The Challenge of High Cost of Living in Nigeria: Causes and Solutions
Nigeria my country, it's very sad writing this because it's my country and the way we keep doing things is now be oming different and the way we live now going higher everyday, we've been battling with this for so many years but right now I think is now been more and the challenges facing NIGERIAN CITIZEN with the high cost of living. And when we comes to look at it nowadays the rise in prices of everything makes it so difficult for we individuals to be able to afford the cost of living right now in Nigeria.
Causes of High Cost of Living
Uncontrollable inflation is the most high and causes of the cost of living in Nigeria, we find it difficult for many years to control our inflation and that make our money looses value and most imported good and services become more expensive for us to afford because the value of our currency has been affected by inflation and moreso inadequate infrastructure is another causes of the high cost of living in Nigeria, and I can vividly talk that this is more killing us and gives us high cost of living these days, most especially in power supply, transportation all are been also contributed to the causes of the high cost of living.
Imagine buying fuel at the rate of #198 before and a government that always don't want to "suffocate the poor" came to the board and increase the price to #615 per liter and no increment in salary or any other means for individuals, and this has really make the cost of living so high nowadays and the power supply is not a power supply because we suffer for light most especially in my community in which I live in right now, it's been a week we have light and the cost of fuel as raisen, how do you want me as just a graduate that is still struggling to get job afford to be buying fuel often. So this makes most of us not to be comfortable at our various home and always find alternative to charge gadgets at a those who can be able to afford it.
With the increments in fuel price, it has really been so tough for the individual to transport because no infrastructure from government that can cover anything for we individuals and this as been so sad and the price of transportation also high but do you know if there is a good government and a good infrastructure the increments in fuel price will never suffocate us much because if there is a working train and it's affordable for everyone and there is power often there will be release in the cost of living but because I can call it a bad government or corruption we can't fight for this.
Corruption has been out major problems as well, in which we individuals as well is even affected in this and the government is inefficient to me because why we individuals is affected in this is when government even try to disburse the little funds the want to disburse for individuals either as grants or any other means of helping for people, we individuals as well suffocate ourselves and some who are in involved and the the intermediary between individuals and government even deceives ourselves and even just curb all everything under there abode. And the lack of transparency and accountability really affects the economy growth and mostly increase the cost of living.
High rate of unemployment and low in wages has even be more problematic to the cost of living to be more high, when there no job and unemployed, how can you afford to have a good living and even though who are working self has not be able to afford a standard of living because all they earn is not even enough to sustain the living and this also make its more difficult to overcome the high cost of living in Nigeria.
Some Highlights solutions to the high cost of living
I think one of the best solution for us now is that we need to reduce been depending on crude oil and we need to diversify economy because we have lot we can benefit on than even depending on crude oil alone but if we invest in such like agriculture, technology, manufacturing and by creating much job opportunities for we individuals can even reduce the cost of living in Nigeria nowadays, and moreso when we try to improve in our infrastructure i hope will surely helps us alot in the cost of living because when there's job and you have government transist bus, car, train that work often with low rate, I hope it can help us alot and also having a stable power supply and having cheaper products will helps in having an affordable standard of living.
You won't be surprised that with the highest Cryptocurrencies holder in Africa we're still lamenting like this but that's all we're trying to do so as to curb the high cost of living because we youth now are now believing in blockchain to earn living and that makes us so efficient on the blockchain but if we can be fully supported by our government I hope we will surely have a good standard of living. And fight against corruption between our government and we individuals will surely help us in the growth of living and if government can also help us empower our youth with skills and let us pursue our fream can also reduces the burden of government on the citizens and can also help in achieving a better life.
Investing in agriculture that were lack for lately now will even help our standards of living because back then when I'm still kid my dad do tell me that they eat fresh foods and I can see that will help in having a good standard of living if we can go back to the days of our agriculture life inwhich we don't need to buy food and we have our raw food on our farm, and when farmers sees a good financial support we'll surely have the best from him and we won't have to spend much on buying food and it wont be more expensive, so we can have an affordable living in Nigeria.
If there's affordable housing now by the government for the individuals it will also help the cost of living and we won't be kuch on house rent bills, we need government to do a low-cost of house rent in Nigeria and if we can do all this I hope we should have a great standard of living which will be affordable.
Lastly, high cost of living in Nigeria has been so challenging to we the citizens which as after all the quality and of life and economic well-being of our great country but by implementing the listed solution I explained I hope we'll surely have a better cost of living that will be affordable for the individuals.
Thanks for reading and please note, we NIGERIANS needs helps to overcome this problem.
Posted Using LeoFinance Alpha
Posted Using LeoFinance Alpha
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I wish that governments stop interfering with their citizens in using the currency of our own choice so we could be allowed to thrive.
Yes ooo
Skyrocketing costs of necessities like petrol happening almost everywhere due to the economic challenges that most countries are facing.
A tip: do not link the same LeoGlossary keyword more than once :) For example, you linked in "government" 6x, "cost" 5x etc. I read that it is not good with SEO so once is enough. 😉
Yes but for us here is somehow annoying because no good infrastructure for it before all this dramas
And thanks so much for the correction, I will abide to the correction
That's the challenge, people have to be resourceful during such difficult times.
And they are tips 😉 I also committed those mistakes before😅
I've correct it now
yes people have to be resourceful but when you know this will happen you should have prepared for it but this is unprepared and unknowingly high price
I have make the correction on my post right now and I hope it's now in good shape